All Forum Posts by: Fred Jung Kim

I currently have around $30,000 in student loans and almost no credit card debt. It seems that I would have to save at the least $25,000 to take out a FHA loan for the purpose of house hacking.

Could I use part of the loan to rehab the property?

Hello Bigger Pockets,

I am a recent college graduate and currently work as a leasing consultant for a large high rise in downtown Los Angeles.

Previous to this, I was an assistant to a commercial real estate broker so I do have some working knowledge of real estate.

After listening to hours on hours of the Bigger Pockets podcast, I have finally decided sign up and really educate myself so that I can get my first deal within a year or so.

I make around 40-50k a year depending on the commisions I make and plan on saving atleast $10,000. I have been reading about FHA loans that only need 3.5% down and was wondering if this would be my best option with only 10k in savings.